Thread by @CNBCTV18Live

Finance Minister Nirmala Sitharaman presents #Budget2021, follow this thread for live updates.

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#LIVE | Finance Minister: Preparation of budget was undertaken in an environment like 'never before'

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#LIVE | Finance Minister: Global economy, which was slowing down, was pushed into uncertainty due to COVID-19. The risk of not having a lockdown was far more, far too high.

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#LIVE | Finance Minister: The total estimate of all relief measures announced by govt & RBI so far is Rs 27.1 lakh cr (13% of GDP).

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#LIVE | Finance Minister: Political, economic & strategic relations are changing. The fight against COVID-19 continues into 2021.

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#LIVE | Finance Minister: The government is fully prepared to support and facilitate economic growth.

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#LIVE | Finance Minister: India has only 3 times had a Budget after a contraction. The government is fully prepared to support the economy to achieve sustainable growth.

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#LIVE | Finance Minister: Will lay out a vision for Atmanirbhar Bharat in Part-A of the Budget speech.

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#LIVE | Proposals of Part A will strengthen ‘Sankalp of Aatmanirbhar Bharat’.
Focus on 6 pillars, which include:
Health & Well-being
Inclusive Development
Human Capital
Innovation and R&D

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#LIVE | Finance Minister: New scheme called ‘PM Aatmanirbhar Swastha Bharat’ to be launched, outlay of Rs 64,180cr over 6 years.

#BudgetWithCNBCTV18 #Budget2021 PM Aatmanirbhar Swastha Bharat

#LIVE | Finance Minister: Launching Urban Swachcha Bharat Mission with outlay of Rs 1,41,678 cr over 5 years

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#LIVE | Finance Minister: We are launching a voluntary vehicle scrapping policy. Vehicles will undergo fitness tests after 20 yrs for PVs, 15 years for CVs.

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#LIVE | Finance Minister: FY22 outlay (budget estimate) for health & well-being up 138%, is Rs 2,23,846 cr.

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#LIVE | Finance Minister: The manufacturing sector needs to grow in double digits on a sustained basis.

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#LIVE | Finance Minister: Committed to achieving targets laid out under the national infrastructure pipeline.

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#LIVE | Finance Minister: 7 Mega Investment Textiles Parks over 3 years, in addition to PLI

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#LIVE | Finance Minister: Will introduce a bill to set-up a Development Finance Institution (DFI), capitalised with Rs 20,000 cr

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#LIVE | Finance Minister: A professionally managed DFI is needed for infrastructure financing. A bill will be passed to set up the DFI with a target lending portfolio of Rs 5 lakh cr in 3 years

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#LIVE | Finance Minister: FY22 capital expenditure up +34.5% (Vs FY21 BE) at Rs 5.54 lakh crore.

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#LIVE | Finance Minister: Will work out a specific mechanism to nudge states to spend more on creation of infrastructure.

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#LIVE | Finance Minister: National Monetisation Pipeline for brownfield projects to be launched.
NHAI and PGCIL have sponsored one InvIT each.

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#LIVE | Finance Minister: To award 8,500-km of highways by March 2022.
11,000-km of national highway corridor to be completed.

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#LIVE | Highway works proposed:
3,500 km corridor in Tamil Nadu
1,100 km in Kerala at investment of Rs 65,000 cr
675 km in West Bengal at a cost of Rs 95,000 cr
1,300 km in Assam in the next 3 years

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#LIVE | 3500 km of national highway work being planned in Tamil Nadu at an investment of Rs 1.3 lakh cr.
1500 km of national highway work being planned in Kerala at a cost of Rs 65,000 cr
Allotting Rs 1.18 lakh cr towards Ministry of Road Transport & Highways

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#LIVE | Finance Minister: Government to undertake future freight corridor development projects.

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#LIVE | Finance Minister: Will work towards raising the share of public transport with an outlay of Rs 18,000 cr.

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#LIVE | Finance Minister: Metrolite and Metroneo technologies will be deployed in Tier-2 cities and along the periphery of Tier-1 cities.

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#Budget2021 | As per Bloomberg, FY22 fiscal deficit is pegged at 6.8% of GDP, FY21 fiscal deficit at 9.5%

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#LIVE | Finance Minister: To launch hydrogen energy mission for generation from green sources.

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#LIVE | Finance Minister: FY22 allocation for railways at Rs 1,10,055 cr.

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#LIVE | Finance Minister: Scheme to assist Discoms will be launched with an outlay of over Rs 3 lakh cr

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#LIVE | Finance Minister: Ujjwala scheme to be expanded to over 1 crore more beneficiaries

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#LIVE | Finance Minister: Ujjwala scheme to be expanded to over 1 crore more beneficiaries

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#LIVE | Finance Minister: City gas distribution network to be expanded to 100 more districts

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#LIVE | Finance Minister: We will add 100 more districts to city gas network. Independent gas network operator will be set up.

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#LIVE | Finance Minister: SEBI will be notified as regulator for a gold exchange

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#LIVE | Finance Minister: Govt to increase FDI from 49% to 74% in insurance. To allow foreign ownership with safeguards.

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#LIVE | Finance Minister: To increase FDI from 49% to 74% in insurance. To allow foreign ownership with safeguards

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#LIVE | Finance Minister: Decriminalisation of LLP Act to be undertaken.

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#LIVE | Finance Minister: NCLT system to be strengthened, e-Courts to be adopted & alternate mechanism of debt resolution to be set up.

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#LIVE | Finance Minister: To allow for one-person companies.

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#LIVE | Finance Minister: Propose to strategically divest 2 PSU banks & 1 general insurance co.

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#LIVE | #Budget2021
-Propose to take up 2 PSBs and one general insurer for divestment.

-Will bring IPO of LIC in FY22

-Govt has approved policy for divestment in strategic and non-strategic sectors

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#LIVE | Finance Minister: Divestment target for FY22 at Rs 1.75 lakh cr

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#LIVE | Finance Minister: Will bring IPO of LIC in FY22

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#LIVE | Finance Minister: Government to set up a separate administrative structure for cooperatives.

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#LIVE | Finance Minister: Asking Niti Aayog to work on the next list of PSU cos that could be taken up for divestment.

Divestment target for FY22 at Rs 1.75 lakh cr.

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#LIVE | Finance Minister: For startups, innovators would be allowed to form 1-person companies without restrictions, paid-up capital, or turnover norms.

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#LIVE | Finance Minister: Govt has approved policy for divestment in strategic and non-strategic sectors.

Non-core assets like surplus land will be monetised. SPVs will be set up to carry out this activity.

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#LIVE | Finance Minister: Amount paid to farmers for wheat procurement was increased.

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#LIVE | Finance Minister: Rs 75,060 cr paid to farmers for wheat procurement in 2020-21.

Amount paid to farmers for wheat procurement was increased.

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#LIVE | Finance Minister: Enhanced agriculture credit target for FY22. Additional allocations for rural infrastructure & irrigation.

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#LIVE | Finance Minister: Rural infra fund increased to Rs 40,000 cr

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#LIVE | Finance Minister: Micro irrigation corpus doubled to Rs 10,000 cr. Agriculture infra fund will be made available to APMCs.

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#LIVE | Finance Minister: To set up multi seaweed park in Tamil Nadu.

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#LIVE | Finance Minister: 1 Nation 1 Ration Card plan under implementation by 32 states & UTs. To launch portal to collect data on migrant workers.

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#LIVE | Finance Minister: Social security benefits will be extended to gig and platform workers.

To launch portal to collect data on migrant workers.

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#LIVE | Finance Minister: Social security benefits will be extended to gig economy workers.

Women will be allowed to work in all areas and in night shifts.

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#LIVE | Finance Minister: Provided Rs 15,700 cr to MSME sector, more than 2x of previous year.

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#LIVE | Finance Minister: To set up Central University in Ladakh.

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#LIVE | Finance Minister:
-15,000 schools to be strengthened as per National Education Policy
-100 new sainik schools to be set up in partnership with NGOs.
-To introduce legislation for setting up of higher education commission. Will set up a central university in Leh.

#LIVE | Finance Minister: Raise allocation for 'Eklavya' schools to Rs 38 cr & Rs 40 cr in hilly areas.

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#LIVE | Finance Minister: Introduced National Commission for Allied Healthcare Professionals in Parliament

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#LIVE | Finance Minister: To boost digital payments, Rs 1,500 cr earmarked for a scheme for financial incentives for digital payments.

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#LIVE | Finance Minister: NRF to get Rs 50,000 cr over 5 years. NRF will focus on Research system being strengthened in the industry.

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#LIVE | FY21 revised expenditure target at rs 34.50 lk cr.

FM says will approach market for additional Rs 80,000 cr to fund FY21 fiscal deficit.

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#LIVE | Finance Minister: Hope to get to back to fiscal consolidation path by FY26.

Fiscal deficit will reach below 4.5% by FY26.

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#LIVE | Finance Minister: Will approach market for additional Rs 80,000 cr to fund FY21 fiscal deficit.

Gross market borrowing target at Rs 12 lk cr for FY22.

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#LIVE | Finance Minister: 41% devolution to states retained.

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#LIVE | Finance Minister: Contingency Fund of India to be enhanced to Rs 30,000 cr.

Propose to discontinue loans to FCI. Have provided for support in budget.

15th Finance Commission reconfirming share of States at 41%.

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Budget
-Fiscal deficit in revised estimate for FY21 pegged at 9.5% of GDP
-Need another Rs 80,000 cr for FY21
-Will approach market in next the 2 months for the additional Rs 80,000 cr
-Fiscal Deficit Est @ 6.8% for FY22
-Gross Borrowing Est at around Rs 12 lakh cr for FY22

#LIVE | Finance Minister: Will look to bring fiscal deficit below of 4.5% by 2025-2026 (FY26).

Expect a fairly decent decline of Fiscal Deficit up to FY26.

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#LIVE | Finance Minister: Senior citizens above 75 years with only pension and interest income exempted from filing returns.

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#LIVE | Finance Minister: Reopening of tax cases only till after 3 years Vs 6 years earlier.

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#LIVE | Finance Minister: To set-up a faceless dispute resolution mechanism for small tax payers.

To make Income Tax Appellate Tribunal faceless.

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#LIVE | Finance Minister: Propose to abolish need to file IT returns for senior citizens (above 75 years)

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#LIVE | Finance Minister: Propose to increase threshold for tax audit to Rs 10 cr Vs Rs 5 cr (for those transacting 95% digitally)

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#LIVE | Finance Minister: FPI to get deduction of tax on dividend at lower treaty rate.

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#LIVE | Finance Minister On Education & Skilling
- Rs 3,000 crore to be set aside for skilling initiatives for the youth
- National Research Foundation to be allocated Rs 50,000 crore over 5 years
- 100 new Sainik schools to be established

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#LIVE | Finance Minister: Revenue grant of Rs 1.18 lk cr to 17 states in FY22.

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#LIVE | Finance Minister:
-Affordable housing deduction extended by one year to FY22.

-Tax exemption to notified rental housing projects

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#LIVE | Finance Minister: Notified infra debt funds to be eligible to raise tax efficient zero coupon bonds.

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#LIVE | Finance Minister: Tax exemption for aircraft leasing companies

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#LIVE | Finance Minister: Details of cap gains, div income, interest income to be pre-filled in tax forms

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#LIVE | Finance Minister: Late deposit of employee’s contribution will not be allowed as deduction for employer.

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#LIVE | Finance Minister: Extend cap gains tax exemption for investment into start-ups by another year

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#LIVE | Finance Minister: Delayed contribution of EPF by employer for employee will not be allowed as a deduction.

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#LIVE | Finance Minister: Tax holiday for Aircraft leasing business in Gift city

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#LIVE | Finance Minister: Propose to review more than 400 old exemptions in customs this year.

To put into place new customs duty structure by Oct-1, 2021.

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#LIVE | Finance Minister: Withdrawing exemptions on some parts of mobile phones.

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#LIVE | Finance Minister: Exempting duty on steel scrap for a specified period.

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#LIVE | Finance Minister: Cutting duty on copper scrap 2.5% from 5%.

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#LIVE | Finance Minister: Some parts of mobiles to move from NIL to 2.5% rate.

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#LIVE | Finance Minister: Revoking ADD and CVD on certain steel products.

Reducing duties on copper scrap from 5% to 2.5%.

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#LIVE | Finance Minister: Cutting Basic Customs Duty rate on nylon chips & nylon fibre.

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#LIVE | Finance Minister: Rationalising customs duties on gold and silver.

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#LIVE | Finance Minister: To introduce a phased manufacturing plan for solar cells & panels.

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#LIVE | Finance Minister: Withdrawing exemption on tunnel boring machines, to be taxed at 7.5%.

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#LIVE | Finance Minister: Increasing customs duties on some auto parts.

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#LIVE | Finance Minister: Withdrawing exemption on certain kinds of leather imports.

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#LIVE | Finance Minister: Raising customs duty on cotton and raw silk.

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*Agri cess of Rs 2.5/litre on petrol & Rs 4/litre on diesel
*Agri infra cess of 2.5% on on gold, silver & dore bars
*Agri infra cess of 100% on alcoholic beverages
*Agri infra cess of 17.5% on crude palm oil

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Agri infra cess of 20% on crude soyabean, sunflower oil
Agri infra cess of 35% on apples
Agri infra cess of 1.5% on coal, lignite & peat
Agri infra cess of 5% on specified fertiliser (urea etc)
Agri infra cess of 40% on peas
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Agri infra cess of 30% on kabuli chana
Agri infra cess of 50% on bengal gram/chick peas
Agri infra cess of 20% on lentil (mosur)
Agri infra cess of 5% on cotton (not carded or combed)
*New agri infra cess to be applicable from February 2, 2021

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New agriculture infra #cess to be applicable from February 2, 2021

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